Michigan ranks in the bottom half of states as measured by cost of living. The average of “Top Ten” states was $6 lower for the same basket of goods. Michigan ranks in the middle among peer states.       

What It Is: An estimation of the differences in the price levels of goods and services across states.

Why It Matters: A higher cost of living means businesses and households must pay more for an identical good or service. This can indicate a high desire to live in an area, but can also prevent businesses and households from purchasing necessary items.

Note:  2016 data not yet available.

Cost of Living Trends

Cost of Living Standings

Source: Bureau of Economic Analysis